Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Bitcoin analysis for October 31, 2018

October 31, 2018 Analytics

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Trading recommendations:

According to the H1 time – frame, I found a symmetrical triangle in creation, which is a sign of potential downward continuation. In the background I found strong supply and strong bearish momentum, it seems that symmetrical triangle is only a part of consolidation for the further downside continuation. Watch for selling opportunities. The downward target is set at the price of $6.173.

Support/Resistance

$6.260 – Intraday resistance

$6.220– Intraday support

$6.173 – Objective target

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